22 February 2020
Reverse Charge Mechanism ===================== Basically what is the definition of RCM ? What are the cases as in which RCM comes into picture ? Whether RCM Refund can be claimed ? Whether set-off of the RCM is possible as and when any shortfall in payment of any GST liability arises ?
22 February 2020
Under RCM ( Reverse Charge Mechanism ), the Recipient of the goods/ services need to pay tax. Government vide notification notifies person/category of goods/ services on which tax need to be paid by the recipient Sec 9(3) & 9(4)
The recipient can avail credit for payment of tax under RCM
For further details and more clarity refer following link:- https://taxguru.in/goods-and-service-tax/reverse-charge-mechanism.html
CAclubindia
